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The NODL Token

The $NODL token (also referred to as Nodle Cash) is the native token of the Nodle Network. It is used to settle transactions and incentivizes.

The maximum supply is of 21 Billion. Tokens can only be issued by the Nodle Chain itself which does so in order to incentvize network participants. As of today, these allocations are controlled by a centralized oracle operated by Nodle. However, future upgrades will further decentralize and reduce the trust of this process by:

  1. Providing clear safety mechanisms within the on-chain code to ensure that the oracle cannot over-issue tokens.
  2. Providing a clear transaparency and auditing mechanism to review the work of the oracle in computing rewards for each participant.
  3. Moving towards a federation model for our oracle which would allow third parties to participate in the oracle's work.

The NODL token will soon be usable to help select collators that maintain the Nodle Chain via a staking mechanism. NODL token holders will also be eligible to participate in governance proposals and vote on them as ownerhsip of the Nodle Chain is given back to the community.